Looking at historical events drive future predictions. In 2018, the correction after the crash was 50% of the crash. Using the same model, I'm expecting a correction to 10850 before buying in to go long.
Falling wedge (red) show price break-out upwards with target shown at red line.
Elliot Wave shown in black lines with letters or numbers.
Green boxes donate buying area
Red donate selling area.
Place stop-loss about 30 pips.
Daily looks like this is going up after a smaller correction.
Read comments on chart.
- RSI divergence (down)
- Broke RSI uptrend line
- Volume decreasing on buying
- MACD crossover into downtrend
- Wed, Fed Interest Rate hike decision (a hike should increase USD value)
- Broke support line and retested (but weak RSI retest and broke back across support line)
- RSI divergence to retest line with 50 RSI
- Volume decreasing on...
JPY buy back over the Asian session and held at the S/R and Pivot line. Still feeling like a Long, also comparing to the other JPY pairs. My only concern is the RSI is high with little room for movement, so how much further only time will tell.
Apple is on the up and up by general consensus. New iPhone 8 is due for release the end of this year (latest: Nov'17). Shares will increase for a month after whilst analysts wait for first month sales results. If sales targets are missed, it may mean a start of the downtrend, or if targets exceed expectations, a break of the trend, followed by a possible...